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20121202
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and treasury secretary timothy geithner. >> we are flabbergasted. we have seven weeks between election day in the end of the year. three of those weeks have been wasted. >> we are not going to extend an extension of the tax rates. we think they need to go back to those levels. if you don't do that, you have to ask yourself, whose taxes are we going to raise? were we going to find the money bring a balanced plan in place? jenna: senator lindsey graham, a republican known for reaching across the aisle, not looking at this with a great deal of optimism. >> i think we're going over the fiscal cliff. it's pretty clear that they have made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more. reporter: yes, what is clear is increasingly, the two sides -- the obama, white house, senate democrats on one side, senate republicans on the other, there is a ticking clock involved here. they should be hitting their stride right about now. timothy geithner is trying to avoid plunging of the fiscal cliff. he has ma
just lost re-election and the eight or so seats. on the other hand, he still has a very diverse caucus in terms of ideology and it's going to be very difficult. you'll notice in hiss comments he didn't say no to 37%. that said, if he agreed to 37% and he's basically bilateral talks with the president, who says the kwaux is going to approve that. he could end up with a lot of egg on his face if he agrees with the president on this, they go forward with the vote, and it doesn't pass. >> david, the office of management and budget, omb, asking government agencies to figure out what they would cut if we do go over this fiscal cliff. talking a trillion dollars in cuts over ten years. that would mean furloughs for some federal workers, slower hiring, outside contracting, the closer we get to the cliff, the more real it begins to seem. how does that then change the negotiations? >> well, i think it's all part of the political pressure the white house is trying to apply to the congressional republicans. we saw the same thing in '11 when we had the near government shutdown and the dispute over t
the fiscal cliff. right after the election wall street dropped 5% when everybody suddenly focused on the fiscal cliff and realized that this was a problem. but since then it's kind of bumped along at this sort of level. i don't think wall street is at all sanguine about the idea that if we went over the fiscal cliff, life would go on as we know it and everything would be fine. >> one of the things that was really interesting to me to bear out that point is ken conrad yesterday who's been so down, i mean, he's leaving the senate. he's done this for seven years. they can't produce deals. and yesterday when i interviewed him, joe, he said i think we're going to make this. i think the boehner offer had significant indicators that something here is going on, and they're going to come together. >> also, kent conrad, a guy -- i've loved him for a long time, deficit hawk. they haven't allowed him to put a budget out for years. he's growing frustrated. i'm sure he's going to be glad to leave. but i was surprised by that as well. you see also, sam stein, republicans are now starting to real
. >> an election is coming along and people made their choice. policy makers still have a duty to choose between ideas that work and those that don't. when one economic after another failed our working families, it is no answer to express compassion for them or create more government programs that offer promise and don't perform . we must come together and advance new strategies. our complicated and uncertain tax code is hindering the jobs. you can't open a business if your tax rate is too high or uncertain. i personally oppose the president's plan to raise taxes. [applause] listen, this is not about a pledge. it is not about protecting millionaires and billionaires. for me it is the fact that tax increases he wants would fail to make a small dent in the debt but it would hurt the middle class business and people who work for them. >> gretchen: this is what the campaign was about . people are sick i and tired of hearing the same talking points . people want to see actual tax reform. get the job done and the kick the can down the road is what we have done for the last four years. will president o
Search Results 0 to 3 of about 4